Fixer Jay’s Mom & Pop Millionaire Blog

Opportunities to acquire wealth building real estate have never been better for investors who have the vision and basic skills to charge ahead. While the “chicken little” disciples dance around on the sidelines waiting for the sky to fall, shrewd investors are busy pickin’ cherries off the top branches!

The big chase today is for the huge pool of houses dumped by their owners and foreclosed by the banks. Obviously, price slashing is the major attraction -BUT INVESTORS SHOULD ASK THEMSELVES -slashed from what? Inflated appraisals to begin with, may not be a sound starting point to determine true value.

When I invest my money, I insist on being able to project my profits and cash flow within a reasonable period of time. If there’s some reason I can’t, then it’s too much risk in my judgment. Having control over financing and terms (like with seller financing) eliminates most of the risk and guarantees I’ll make my profits. Without this control, the best I could do is guess!

At my HOUSE FIXER CAMP, I’ll teach you how to accurately calculate your cash flow and future profits. My specialty is adding value to unattractive rundown properties. When you visit my properties, you’ll see for yourself - ugliness is only skin deep and can be fixed very quickly when you learn what to do.

The big money is made by investors who learn how to specialize because it’s so much easier to beat out your competition! Following the crowd rarely produces any lasting wealth. Think for a moment - isn’t it always the groupies chasing the latest “get rich” fads, looking for overnight wealth, who end up in the dumper when the economy stalls?

If you’re dead serious about building a lifetime of wealth with properties that earn predictable cash flow year ’round, rain or shine, regardless of a sputtering economy - I can teach you how! You owe it to yourself, your family and your financial future to attend my HOUSE FIXER CAMP and learn for yourself how it’s done. You’ll be pleased with the results – guaranteed.
For more information – Click Jay’s Seminars – Fixer Camp

Tags: Fixing For Money by FixerJay
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Like most successful investors, I suffered through a probationary period! That’s when there’s almost as good a chance of going broke as being successful. What finally saved my bacon was when I started buying the kind of properties that would earn enough income to pay me every month. That might not sound like much to some folks - but to me, it was the discovery that kept my investment career alive - and my faith intact!

I can tell you from experience - buying the right properties, in the right sequence, makes all the difference in the world. If you’re like me, cash flow is always the biggest concern! It took me several years and some seriously overloaded Visa cards before I gave up the notion that average three bedroom, American dream houses would set me free! They almost broke me instead! Don’t misunderstand me here - I’m not saying they’re not a good investment - I’m saying they don’t provide any cash flow! My dream was to be a full-time investor and have my real estate support me.

BUYING THE RIGHT PROPERTY FIRST

When you don’t have a lot of money - and you need cash flow rather quickly, you must invest in the kind of real estate that will produce it. Single houses can produce it someday - but not until the mortgages are paid! If I was lucky enough to earn $100 per house, not likely with a mortgage - I’d need more houses than I could ever afford just to earn pauper’s pay. Fortunately, there’s a faster, better way!

The better way is to start with fixer-uppers first - and concentrate on cash flow. With fixer properties, you can force the value up with sweat equity (yours or somebody else’s). With fixer properties, you won’t get stuck in a holding pattern, waiting for appreciation or a turn-around economy. This is very important, if your goal is to create wealth during your lifetime so you can enjoy it yourself!

BUILDING WEALTH DURING YOUR LIFETIME

Once you have a few dollars to jingle - and a respectable cash flow, you are now in a position to acquire quality houses, so long as they’re close to break even. I could never move forward very fast until I figured out the sequence! Go for cash flow first - quality houses, second! At my Fixer Camps - this is what I’ll show you how to do.

Fixer investors also enjoy another major advantage over all the other investors because there’s no up and down cycles to slow you down. Unlike the general housing market, the fix-up strategy never changes regardless of what the economy does. Although I currently own a number of American dream houses now - I don’t mind confessing - my fixer properties bought every single one of them! Join me at my next House Fixer Camp, September 19 - 20 21.   I’ll teach you how to do the same thing yourself. Call right now to reserve your seat–- 1-800-722-2550.

Tags: Fixing For Money, Success Secrets by FixerJay
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Viewers seem to be fascinated with Fixer-Jay student Don Collins.  Many have asked Don to share his fix-up knowledge about kitchens.  Is it Possible to fix-up rental house kitchen’s economically?  Following is Don’s inexpensive (Cheap) checklist for kitchen’s and laundry rooms.

Kitchens are the most important rooms and quite often the most expensive. These minimum fix-up requirements are necessary to product am attractive functional kitchen.

12 Item checklists follows:

 

 Kitchen Faucet: and stops must work easily or be replaced.

SINKS : Replace ugly sinks with chips and  dings.

ALUMINUM SINKS: are best for economy rentals.

COUNTER TOPS: Replace damaged work countertops with redi-made Formica tops.

CABINET’S:  Re-work,  don’t replace unless impossible to fix or repair them.  Finish with interior semi-gloss ·paint.  Add new pulls if needed.

KITCHEN RANGE:  Furnish good used or new economy model kitchen range.

DOORS : All interior doors and key-sets must work properly.  Also check cabinet doors.  Replace pulls and catches as needed.

ELECTRICAL:  Decorative lighting fixtures add charm. All switches, outlets must work properly.  Test each!  Do not allow electrical outlets within 36″ of sink and faucet. Make sure garbage disposal unit works, otherwise replace.

WALLS:  Fill holes, repair as needed. Then paint with good washable interior (semi-gloss) latex white.

FLO O R S:   Must be clean and attractive.  Repair damage of possible.  Remove good tiles from non-visible areas to replace damaged tile.  If repairs not feasible, replace with competitive grade (FHA standard) linoleum.

WINDOWS:  Must open and close properly.  Must have locks.  If older wooden frame windows involved, consider replacement.  Single-hung or sliders can be obtained to fit existing framing.

FIXTURES : Towel bars, paper roll hangers and a telephone jack are inexpensive items people look for in the kitchen.

CURTAINS/WINDOW COVERINGS : Window dressing (inexpensive) provides a “finishing touch”. Colorful curtains or plastic mini-blinds are suitable choices.

FIXING HOUSES LANUDRY ROOM - PORCHES - GARAGES CHECKLIST

WASHER/ DRYER: Make sure washer and dryer have safe working electrical receptacles. 220-volt dryer - 110-volt dryer.

WINDOWS: Windows must open and close properly - equipped with locks.

FA U C E S / VALVES :  Laundry room faucets must be in good condition. Standpipe or laundry tray is needed for washer discharge hose.

DOORS:  Exterior doors must be in good condition and have entry key set with deadbolt for security.  Key locks to match other entrance doors.  One key for all doors is cost saver and much more convenient for owners and tenants alike.

PAINTING: Rooms must be clean, fresh looking and painted.Use semi-gloss water-base latex. Medium grade, off-white is best. White paint gives rooms large appearance and adds brightness. The opposite is true with darker colors. 

SHELVING:  Shelving and cabinets are needed in laundry room. One (1) set double-door wall cabinets, 36″ x 24″ (birch veneer), are economical and very useful. Same goes for base cabinets. Formica, ready-made top can be an attractive addition to laundry rooms and storage areas.

ELE C T RI AL:  Check for exposed wiring. Cover wires with plastic guard or wooden molding to avoid damage. Porches should have adequate lighting, also, exterior light fixture outside entry door.

FLOORS:  Wood or concrete floors can be painted (laundry room and porches). Battleship gray is excellent color choice! Roll vinyl linoleum is recommended for newer houses where “classier” job is called for.

Tags: Success Secrets by FixerJay
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In 1961, millionaire investor, author, Robert W. Kent, wrote a popular “How To” book about his own investment experiences, HOW TO GET RICH IN REAL EST ATE, Prentice Hall, Inc., Englewood Cliffs, NJ.  In the very first chapter Kent writes about do-it-yourself investing - and in particular, investing in the older multiple type income-producing properties that can be purchased much cheaper per unit! “It is feasible, he says, for any sincere man or woman who is steadfast in purpose, and is three of the three cardinal faults; timidity, negativeness and laziness to learn how to invest and do it well.”  Those words written nearly 45 years ago have not lost their value today.  Kent goes on to say - sometimes the hardest thing to convince people of 

Some folks have told me — They don’t see much long-range potential in the kind of properties I’ve been discussing here!  First, let me say this — There is no need to worry about long-range investing potential unless you first take care of short-term investment needs, namely building a guaranteed monthly income.  Over the years I’ve transitioned from small fixer-upper properties to larger ones.  I’ve owned a 100-unit hotel with commercial storefronts.  I still own many single-family houses and duplexes. I’ve converted old motels to monthly apartments and along the way; I’ve made some big-ticket sales and carried back many installment notes. But most important of all— I’ve always bought the kind of properties that paid me to own them.

BARGAINS NEVER CHANGE - JUST YOUR EDUCATION

Finding the right properties with decent potential for profits and cash flow is the first step for developing a successful investment plan, I think.  It’s also important to break away from traditional thinking and the average investor crowd.  Serious money is made by those who study the marketplace and have the ability to spot bargains that others can’t see.  You don’t need to buy properties below your comfort zone, but I’ve found most investors who have the courage to step outside the box and push their limits a bit will do just fine! In my long career of investing - and watching other investors around me, a somewhat surprising fact pops out!  Investors who have the least amount of resources - that is, cash for down payments and a brain that’s void of pre-conceived ideas (mostly hear-say) about what constitutes a real bargain tend to do a lot better - and reach cash flow status much faster.

In short, poor folks who follow directions well, reach their investment goal much easier because they have fewer choices to stray off course!  Being “half smart” is the perfect recipe for doing nothing or worse yet, losing everything when you finally make a move.

My success has come from keeping things simple - and sticking to basics. That means thoroughly analyzing the expense money going out and the income coming in. You don’t need to know the (lRR) internal rate of return on a duplex to make a profit.  You’re far better off knowing if both toilets will flush.  Later on when the money rolls in - you’re accountant can tell you about the (lRR). Meantime, he can start doing your plumbing when he’s not working on the books.

Tags: Building a Cash Foundation by FixerJay
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